Commission approves Mills Act eligibility for restored portion of 690 Market after $61M rehabilitation

The Commission considered a multi‑year rehabilitation of 690 Market Street (the historic Chronicle building), reviewed by the Landmarks Board and the Planning Department. Project counsel and the preservation architect detailed extensive exterior and interior restoration and seismic upgrades, and the project sponsor reported that roughly $61,070,000 had been expended on restoration since 2004.

Given the building’s partial adaptive reuse (a restored historic base and a new tower addition), staff and Landmarks recommended Category‑2 historic designation for the restored portion only and recommended Mills Act eligibility for that restored portion. The Commission voted to approve the staff recommendations and forward the Mills Act contract and designation to the Board of Supervisors. Project architects described the scope of restoration: removal of mid‑century cladding, careful masonry repair and replication of historic stone and details, structural upgrades, and careful cleaning and repointing.

Why it matters: The project represents one of the larger, high‑cost historic restorations in the city and illustrates how adaptive additions can be structured so that preservation benefits attach to the restored fabric while more contemporary additions are treated separately.

What’s next: The Commission recommended the Mills Act contract to the Board of Supervisors and the City will finalize any contractual and tax matters as part of the usual approval process.